Arctic Cat‘s profits continue to slalom through this recession.
The recreational-vehicle maker lost $7 million in the first quarter, which ended June 30. With few consumers in the mood for big purchases like ATVs or snowmobiles, Arctic Cat is doing what it can. It’s cutting costs and inventory and hoping to hang onto its market share.
“Given the current recessionary environment, we are pleased with the company’s improved results on lower sales,” CEO Christopher Twomey said. “We made significant progress on our goals to reduce our cost structure and strengthen the balance sheet.”
The company reports that it trimmed operating costs by nearly a quarter and cut inventories by 19 percent.